Kats, the Netherlands-based The Kingfish Company reported higher revenue and better revenue per kilogram during the second quarter of 2026, but said some production issues reduced the share of superior-grade fish.
The land-based yellowtail recirculating aquaculture system farmer reported revenue of EUR 10.4 million (USD 12 million) in Q2 2026, an increase of 9 percent compared to the same period of 2025. On a like-for-like basis accounting for the discontinuation of fresh sales in the U.S., the company said its revenue increased by 15 percent.
Sales volumes also increased in Q2 2026, reaching 755 metric tons (MT), up 5 percent compared to Q2 2025. On a like-for-like basis, that increase is 9 percent.
“Demand from the foodservice market remained strong, particularly for fresh large fish,” Kingfish Company said. “Customer engagement continues to strengthen with chef partnerships, expanded distributor agreements, and resilient demand in priority markets.”
The company said its fresh large fish volumes increased by 28 percent in Q2 2026 when compared to Q2 2025, and pricing for those fish increased by 5 percent on a like-for-like basis. That helped increase average revenue per kilogram by EUR 0.60 (USD 0.69) per kilogram to EUR 13.80 (USD 15.91) per kilogram of fish.
“The improvement in underlying pricing was partly offset by a lower proportion of superior fish, impacting the price mix during the quarter,” the company said.
Frozen sales revenue decreased 33 percent compared to the prior year, and the company said that decrease reflects its focus on premium fresh and frozen segments and prioritizing value over volume.
While revenue increased the company said Q2 2026 was not without some problems. The Kingfish Company said that starting in mid-May it saw a decline in the proportion of superior-grade fish it was producing from 90 percent to 75 percent, which primarily affected large fish.
After a detailed review, the company said it has identified the causes and implemented corrective measures, “including reversing certain changes to farming practices introduced over recent quarters.”
The company said it expects to see the benefits of the changes in the coming quarter, but because of production cycles it will see adverse affects on the product mix for the next six to 12 months.
